Explain Whether Each of the Following Would Usually Be Used

question 91

Essay

Explain whether each of the following would usually be used in a computerized accounting system and why.
1. Special journals
2. Accounts receivable control accounts
3. Electronic invoice form
4. Month-end postings to the general ledger

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Definitions:

Favorable Differences

Variations between budgeted and actual figures that are advantageous to the company, indicating better performance or savings.

Unfavorable Differences

Variances that occur when actual costs are higher than the budgeted or standard costs, often considered as negative variances.

Relevant Range

The range of the activity index over which the company expects to operate during the year.

Total Costs

The aggregate amount of all expenses incurred in the production of goods or services, including fixed and variable costs.